BHP - Break of trend lineJSE:BHP has broken through an upward trendline that it has been adhering to since October 2020. If the current candle closes below this line and continues down, we could be looking at a move downwards. Along with this, the stochastic, MACD and Moving Averages are all showing signs of downward momentum.
ALSI
SASOL - Short if trend is brokenJSE:SOL is showing all the signs of a direction change based off of the stochastic, MACD and EMA's. I will however, only enter short if it breaks and confirms below the trend line that it has been adhering to since the end of October last year. Once this is confirmed, I think we could see a nice downward move for a while.
Exxaro - downward momentumJSE:EXX is showing signs of a possible downward move. The stochastic and MACD both turned downwards last week and with yesterday's downward move, the two EMA's have crossed downwards, signalling a short opportunity. We might see some resistance around the 15000 level, but if it breaks through that, we might be able to set our sights on around 13300 support level.
AGL - Short if it breaks through support levelJSE:AGL is currently at a support level from January 2021. If it breaks through this support level, we could possibly see a move down towards the 49000 support level.
SBK - Showing some downward momentumJSE:SBK has started showing some strong downward momentum with today's price action. I will keep an eye on this one for confirmation of a short as the stochastic, MACD and EMA's are all showing downward pressure.
SSW Short JSE:SSW is looking good for a short position soon. If this downward momentum continues, we could be looking at a nice bearish move next week. I will wait for a confirmation below the 6700 area before entering.
Quilter @ strong resistanceJSE:QLT seems to be currently bouncing off of a very strong resistance where it has not broken through numerous times. If it fails to break through again this time, I will consider a short position on it's way down.
GFI Upward MomentumJSE:GFI is showing some upward momentum and we could see an upward move if it breaks higher than this morning 's opening. The stochastic and MACD are both confirming this move with their upward turns and the 3 and 15 EMA's have recently crossed upwards at quite a strong support level.
ANG Turning upwardsAll three of the "momentum indicators" have turned up with this morning's opening which could indicate an upward move on JSE:ANG . It has also bounced off of a significant support level which goes all the way back to August 2019. If it continues with the upward momentum, we could see an upward move all the way to the 40000 resistance level.
Possible short on SASOLJSE:SOL is showing signs of a momentum change, and we could be looking at a downward move to the support level around 15500. The stochastic and MACD have both crossed down a couple of days back and we finally have confirmation from the EMA's that the trend may be changing.
AGL - Upward Momentum BuildingAfter a nice downward trade, JSE:AGL seems to be reversing for an upward move. Our momentum indicators, the MACD, Stochastic and 3 & 15 EMA's are all confirming this possible move.
I will be looking at 60000 resistance level for a target.
GLN short if it breaks through supportThe MACD and Stochastic indicators on JSE:GLN are both signaling a downward move. However, it is currently trading around a support level (+-5800) and I will be inclined to wait for it to break through that level before entering short. If it does play out, we could see a move to at least the support level of around 4900.
ARI Reversal possibilityJSE:ARI has reached a level of resistance and seems to be turning downwards for a short move. It has been confirmed by the stochastic, MACD and 3&15 EMAs. If the move happens, we might see it go down towards the 200SMA where it might find some support before either bouncing upwards or continuing downwards.
Clicks Bounce off SupportJSE:CLS failed to make lower lows and bounced off the support level instead. It looks like we might be looking at a move upwards. All of the indicators in our Momentum Strategy have turned upwards indicating a long position.
Short on CLS if breaks out of channelAlthough it is trading in a channel, JSE:CLS is showing some downward momentum. It may very well bounce up off of the bottom of the channel, but if it breaks through, I will enter a short position. Beware of the 200SMA, though, that may act as a support level.
Ascending Triangle Breakout on CFRAn ascending triangle chart pattern has been forming on JSE:CFR since early Jan. It is currently breaking out of the top of the triangle. If it confirms, this could be a good sign for a long position.
ABSA showing some downward momentumJSE:ABG is showing some downward momentum based off of the stochastic and MACD turning downwards and now the 3 and 15 EMA's crossing downwards. I am looking at a short position to at least the 11250 support level.
EXX going shortJSE:EXX is showing signs of a potential short trade coming up. The first signs came with the stochastic and MACD crossing downwards, and it has been confirmed by the downward cross of the 3 and 15 EMA's.
I see it potentially moving down to around the 15000 support level, where it may retrace before potentially continuing downwards. Let's see what happens.
Keep watching for possible short positionAlthough not confirmed yet, JSE:RNI is looking like we could be in for a downward move sometime soon. The MACD and EMA's are yet to confirm to the move, but the price has broken through the 200SMA which could indicate a change of trend. Keep an eye on this for confirmation of a short position.
KIO - Failed to break higherJSE:KIO seems to have failed to make higher highs around the resistance level of 66000. It also formed a shooting star reversal pattern two days ago. This, coupled with the turning down of the stochastic indicator could mean we are in for a downward move.
Bearish Engulfing at ResistanceA Bearish engulfing candle formed on JSE:SHP on 17 Feb. This was followed by a cross of the EMA's and the MACD. All of these indicate a change of momentum and we could be seeing a move to the downside. There is a gap that formed in September last year that we ight be looking to fill, failing that, it might find some support at the top of the gap.
DSY Changing MomentumIt looks like there is a change in direction on the cards for JSE:DSY . Although not confirmed yet, it is looking like it's only a matter of time before the MACD and the EMA's confirm the downward move along with the stochastic.
PEPKOR struggling at historic resistanceJSE:PPH is currently struggling to break through a resistance level that goes all the way back to December 2017. If it doesn't break through and goes down, I will wait for it to break through the support level of around 1450 before entering short.
